Marketing Myopia was first expressed in the 1960’s when Theodore Levitt wrote for the Harvard Business Review “businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products.” At the time, it made quite an impact and many large companies took heed of this advice and rather than focusing their marketing on the needs of the company, began to think more about their customers.
Of course, marketing has come a long way since but the ethos is still valid today, you need to provide a product and service that satisfies the needs of your customers and one that keeps them coming back for more. As Jeff Bezos, CEO & Founder of Amazon famously said, "The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer centric company.”
While many organisations claim to put their customers at the heart of their business and may state this in their mission statement or on their homepage, the reality is, that there are still so many failing to do so. I have no doubt that the intention is there but putting this into practice requires a lot more than just making a few adjustments to your front line teams and telling everyone you are a customer centric business. Indeed, a recent report by Moror (a research consultancy) found that 80% of the businesses surveyed claimed they offered a superior customer experience but in contrast only 8% of customers felt the same way. We often see similar gaps in perception vs. reality when we carry out our own assessments, take a look at the chart in our "From the IIC assessment archive" below.
Customer centricity starts on the inside. Senior management must create an organisational culture where every department is customer focused, not just customer service teams or marketing. Customers don’t see all the different, siloed departments when they look at your organisation, they see the brand as a single entity. This means that it is the responsibility of everyone to contribute to the delivery of CX and provide a seamless experience for the customer. Empowering employees to do this and ensuring they have the right tools and data systems in place is key. Motivated employees are far more likely to deliver a superior service and go above and beyond to serve the customer. In fact, organisations with an engaged workforce can exceed those that don’t by 200%!
To build this seamless experience, departments must share data and intelligence so that a unified CX can be built. From a customers point of view, this means that whenever they contact your organisation, through whichever channel they choose, they will not only receive the same experience and messages but all previous data and interactions will be on record and to hand for whomever is speaking to them. You can read more about the omnichannel approach in "The one to read this week" below.
Understanding customer behaviour is intrinsic to operating as a customer centric business. Ongoing feedback from customers is a must if you are to deliver an outstanding CX. Customers’ needs continually change and without hesitation, a customer will switch brands following one bad experience. With good quality customer insights you can deliver something that is so compelling, your customers form an emotional connection with your brand. This will not only attract new customers but turn your existing ones into fans and keep them coming back for more.
Finally, congratulations to our client URIS Group who scored an exceptional Gold in their latest IIC assessment. You can read more about it below.
We hope you enjoy the read!
We frequently find that the gap between senior managements' perception and that of their customers is significant. While managers assume the CX being delivered is satisfactory or even superior, the reality for customers is often very different.
The graph below shows the results of our 'Customer Experience' theme across all IIC assessments in 2018. 52% of management groups scored themselves so much higher than their customers did and this percentage is set to increase for 2019.
Not only do these results show that senior management are often unaware of the issues customers face but it also shows the need for continuous monitoring and feedback from customers. Without customer insights, a business can't claim to be customer centric and be sure they are delivering a product and service that meets and delights their customers.
Find out more about our assessments here:
To create a seamless brand experience and become fully customer centric, organisations should adopt an omnichannel approach to marketing, selling and serving customers. This cross platform strategy ensures customers receive the same integrated CX wherever they touch your brand, through whichever channel they decide to use. Internally this means that data, intelligence and experience must be connected and shared across the business.
"A customer might begin communicating with a brand representative via live chat like Facebook Messenger or an on-site chat platform. Once the conversation evolves to a more advanced stage, it can then move to direct email or even phone conversations, retaining all the context of former conversations." Read more about the omnichannel approach below.
Over the past four months we have broken down our unique methodology and process, explaining in detail what each principal in the IIC assessment looks at. If you missed it, you can find the full details on our website below.
See all four principles and our complete CX framework here:https://www.investorincustomers.com/page/cx-assessments/
A huge congratulations to URIS Group who retained their Gold award for the fourth consecutive year. Recognition of their continuing commitment to deliver an exceptional customer experience.
The findings show that employees clearly demonstrate a clear commitment to delivering what is best for customers and continues to be one of the most customer centric businesses that we work with.
Derek Coles, CEO of URIS Group commented “We have worked hard to embed a customer focused culture, and believe that this has been the key to driving business success and employee engagement. We are immensely proud to receive the IIC Gold Award for another year and remain committed to driving our customer experience programmes even further.”
You can read more about their award here.
We're benchmarking customer experience perception. See how you think you're doing versus everybody else. Here's how it works:
1. Follow this link to our CX perception survey. Or scan the QR code with your smartphone.
2. Fill out the short questionnaire (your perception of your organisation).
3. Receive your perception benchmark (based on everyone who has filled out the questionnaire). We will update you as more data becomes available, so you can see how you're doing against an ever-growing data-set.